PIK Units. Each issuance of the Series C PIK Preferred Units will result in an increase in the number of Warrant Exercised Units (to the nearest whole Common Unit) to the number that is equal to the product obtained by performing the following calculation: (i) The total number of Warrant Exercised Units immediately before the most recent issuance of Series C PIK Preferred Units multiplied by (ii) (A) the total number of outstanding Series C Preferred Units immediately after the most recent issuance of Series C PIK Preferred Units divided by (B) the total number of outstanding Series C Preferred Units immediately before the most recent issuance of Series C PIK Preferred Units.
Appears in 2 contracts
Samples: Securities Purchase Agreement (American Midstream Partners, LP), Warrant Agreement (American Midstream Partners, LP)
PIK Units. Each issuance of the Series C PIK Preferred Units will result in an increase in the number of Warrant Exercised Units (to the nearest whole Common Unit) to the number that is equal to the product obtained by performing the following calculation:
(i) The total number of Warrant Exercised Units immediately before the most recent issuance of Series C PIK Preferred Units multiplied by (ii) (A) the total number of outstanding Series C Preferred Units immediately after the most recent issuance of Series C PIK Preferred Units divided by (B) the total number of outstanding Series C Preferred Units immediately before the most recent issuance of Series C PIK Preferred Units.
Appears in 2 contracts
Samples: Warrant Agreement (Third Coast Midstream, LLC), Warrant Agreement (Magnolia Infrastructure Holdings, LLC)
